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Rivian, VW venture kicks off next-gen platform for R1, Scout EVs
Rivian, VW venture kicks off next-gen platform for R1, Scout EVs-May 2024
2024-11-13 EST 09:03:55

The big challenge for Rivian, the EV maker known for its innovative electric and software systems, has long been how to reach the next stage of growth.

That stage became within reach in June, when the California-based company and Volkswagen announced a joint venture, involving a $5 billion injection from the German automaker.

Recommended Videos And now that venture is officially kicking off with an additional $800 million of investment from VW and a near-term goal: Developping a common manufacturing and tech platform to be used for Rivians upcoming R2 SUV and VWs Scout EVs, as well as other upcoming models.

Related The [joint venture] is highly complementary, reflecting Rivians industry-leading software and electrical hardware technology as well as Volkswagen Groups significant global scale and industry-leading vehicle platform competencies, the companies said in a statement.

For Volkswagen, the challenge has been to develop its own software and electrical systems: The name of the game for global automakers has been to transition towards producing software-defined vehicles (SDVs), with functionalities and digital experiences that can be upgraded over time.

The companies plan to use Rivians electrical architecture and software technology stack to enable the launch of Rivians R2 midsize SUV in the first half of 2026 and support the launch of Volkswagen models by 2027.

Speaking during a conference call, Volkswagen CEO Oliver Blume said the next-gen platform will first be deployed for Volkswagen brand vehicles, followed by Audi, Scout, Porsche and all remaining brands.

The venture and the injection of capital from Volkswagen should also provide much needed support for Rivian, which has struggled with suppy issues this year.

In August, the EV maker had to temporarily suspend the production of delivery vans used by Amazon.com due to a shortage of parts. Amazon also remains the largest investor in Rivian, with a 16% stake.

   Editors Recommendations

Rivian R2 EV’s new LG battery boosts storage capacity sixfold New Rivian R1S: Everything new in the second-gen model 2022 Rivian R1S first drive review: An EV SUV fit for an expedition or a drag race

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